According to JLL's 2019 US Grocery Tracker, investors remain bullish as grocery remains one of the resilient subsets of retail. Though the number of single-asset grocery transactions have declined 5.8% since 2016, the average price per square foot has increased 7.8% during that same period. In 2018, investment activity in grocery real estate product reached $9.9 billion.

"The site will be attractive to retailers relying on frequent repeat traffic and service tenants looking for a core location to serve this submarket. This property is in great hands," Meaden tells GlobeSt.com.

Part of the Great Plains and the largest city in the Texas Panhandle, Amarillo had its beginnings in 1887 when the Fort Worth-Denver city railroad was constructed across the Texas Panhandle. Amarillo's economy back then was closely tied to agriculture and the energy industry, according to the city's economic development department.

These days, businesses such as copper refining, fiberglass production, meat packing, ordnance manufacturing, customer service operations and aircraft assembly operations have diversified the city's economy. The city also serves as a regional medical center, which plays a key role in Amarillo's economy. Today, Amarillo is home to 190,695 people, according to the 2010 Census.